Judges Wait to Decide if Madoff Will Leave Jail (UPDATE: He Stays in Jail!)

March 20, 2009

A panel of judges is reserving its decision about letting Bernie Madoff out of jail before his sentencing. The main point of contention seems to be: is Madoff’s failure to flee heretofore proof that he is not a flight risk? Judge Dennis Jacobs asked prosecutor Marc Litt whether, since Madoff’s hadn’t “settled in a tropical republic… isn’t that really a powerful argument against your position?” Litt replied that Madoff has more reason to flee now, having pleaded guilty to charges that will almost certainly put him in prsion forever. To our dismay, Litt did not prepare for the hearing a PowerPoint presentation, showing how Madoff could overpower his rent-a-guards and jump into a waiting helicopter or jet-pack; we think that would have swung the thing. The panel will later find either way, or send the case back for more facts. Meanwhile Ruth Madoff went shopping for detergent. Update 11:35 a.m.: The judges have ruled: Madoff stays in jail.